Quest Partners LLC Purchases 3,083 Shares of QuidelOrtho Co. (NASDAQ:QDEL)

Quest Partners LLC lifted its position in QuidelOrtho Co. (NASDAQ:QDEL) by 89.6% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 6,522 shares of the company’s stock after purchasing an additional 3,083 shares during the quarter. Quest Partners LLC’s holdings in QuidelOrtho were worth $297,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in QDEL. Capital Performance Advisors LLP bought a new stake in shares of QuidelOrtho in the 3rd quarter worth about $25,000. Fifth Third Bancorp lifted its position in QuidelOrtho by 907.3% during the 2nd quarter. Fifth Third Bancorp now owns 826 shares of the company’s stock worth $27,000 after buying an additional 744 shares in the last quarter. GAMMA Investing LLC lifted its position in QuidelOrtho by 27.0% during the 2nd quarter. GAMMA Investing LLC now owns 1,778 shares of the company’s stock worth $59,000 after buying an additional 378 shares in the last quarter. Innealta Capital LLC acquired a new position in QuidelOrtho during the 2nd quarter worth about $102,000. Finally, EMC Capital Management acquired a new position in QuidelOrtho during the 1st quarter worth about $117,000. Institutional investors own 99.00% of the company’s stock.

Insider Activity

In related news, major shareholder Carlyle Group Inc. sold 8,260,183 shares of the stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $35.31, for a total transaction of $291,667,061.73. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.00% of the stock is currently owned by company insiders.

QuidelOrtho Stock Performance

QuidelOrtho stock opened at $41.16 on Tuesday. The company has a current ratio of 1.38, a quick ratio of 0.81 and a debt-to-equity ratio of 0.68. The company has a market cap of $2.77 billion, a PE ratio of -1.44 and a beta of 0.12. The company’s 50-day moving average is $41.38 and its two-hundred day moving average is $40.29. QuidelOrtho Co. has a 1 year low of $29.74 and a 1 year high of $75.86.

QuidelOrtho (NASDAQ:QDEL) last announced its quarterly earnings results on Thursday, November 7th. The company reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.30 by $0.55. The company had revenue of $727.00 million during the quarter, compared to analysts’ expectations of $642.16 million. QuidelOrtho had a positive return on equity of 4.24% and a negative net margin of 66.25%. QuidelOrtho’s revenue was down 2.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.90 EPS. Equities analysts anticipate that QuidelOrtho Co. will post 1.73 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on QDEL. William Blair reiterated a “market perform” rating on shares of QuidelOrtho in a research report on Wednesday, November 20th. Royal Bank of Canada reiterated an “outperform” rating and set a $61.00 price target on shares of QuidelOrtho in a research report on Friday, August 16th. Craig Hallum upgraded shares of QuidelOrtho from a “hold” rating to a “buy” rating and upped their price target for the stock from $40.00 to $57.00 in a research report on Thursday, September 5th. Finally, UBS Group started coverage on shares of QuidelOrtho in a research report on Thursday, September 19th. They set a “neutral” rating and a $50.00 target price on the stock. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, QuidelOrtho currently has an average rating of “Hold” and an average price target of $58.83.

QuidelOrtho Company Profile

QuidelOrtho Corporation provides diagnostic testing solutions. The company operates through Labs, Transfusion Medicine, Point-of-Care, and Molecular Diagnostics business units. The Labs business unit provides clinical chemistry laboratory instruments and tests that measure target chemicals in bodily fluids for the evaluation of health and the clinical management of patients; immunoassay laboratory instruments and tests, which measure proteins as they act as antigens in the spread of disease, antibodies in the immune response spurred by disease, or markers of proper organ function and health; testing products to detect and monitor disease progression across a spectrum of therapeutic areas; and specialized diagnostic solutions.